What’s really going on with gold prices?
Gold recently reached a record high as geopolitical tensions pushed investors towards the traditional safe play. Merryn Somerset Webb explains what’s going on – and where things could go from here.
Bloomberg – Politics
- Louisiana lawmakers are considering legislation to recognize gold and silver as legal tender.
- Eleven states already recognize gold and silver coins as legal tender.
- Several other states have considered or passed similar legislation in the past.
- While Louisiana passed a law acknowledging gold and silver coins as legal tender in 2013, this new legislation may expand upon or clarify the existing law.
Louisiana may soon start accepting gold and silver as currency if proposed legislation is enacted by legislators in the Louisiana Legislature.
Eleven states currently recognize gold and silver coins as legal tender. Other states, including Louisiana, are either pursuing similar legislation or have made past attempts to do so.
Utah
The Utah Legal Tender Act, enacted in 2011, recognizes U.S.-mint gold and silver coins as legal tender.
Louisiana
Despite current proposed legislation, Louisiana passed a law in 2013 acknowledging gold and silver coins as legal tender.
Texas
In 2017, Texas introduced legislation to establish gold and silver as legal tender, including safeguards against seizure by state authorities.
Kansas
In 2013, the Kansas Committee on Taxation passed a bill declaring U.S.-minted coins as both of legal tender and tax-exempt.
Oklahoma
Oklahoma’s Senate Bill 862 recognized gold and silver U.S.-minted coins as legal tender and exempt from taxation in 2014.
South Carolina
The South Carolina House of Representatives passed a bill declaring gold and silver legal tender in 2013.
Wyoming
Wyoming established a law in 2018 that eliminated the taxation of gold and silver bullion, effectively treating them as tender free from sales tax.
These states attempted to pass legislation making gold and silver legal tender but failed
- Indiana
- Kansas
- Missouri
- South Carolina
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